Dubai – Mubasher: Global interior solutions group Depa Limited has appointed SHUAA Capital International, a subsidiary of SHUAA Capital, as its liquidity provider.
Following the appointment, SHUAA was able to “strengthen its position as UAE’s most active and experienced liquidity provider and Market Maker for listed equities and futures,” the company said in a statement on Thursday.
SHUAA has been providing market-making services since 2007 and “strategically helping illiquid stocks gain traction.”
In 2016, SHUAA assisted Nasdaq Dubai in launching its single-stock futures market as founding Market Maker.
The following year, the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) awarded SHUAA licences to act as a Market Maker and Liquidity Provider.
“When we launched our market making business, we set a target to become the biggest Market Maker and Liquidity Provider in the Middle East in support of the expansionary plans of the region’s capital markets. I believe we are well positioned to achieve that target, having already become the major player in the UAE for this service,” stated SHUAA’s head of trading Magdi Shannon.
Meanwhile, SHUAA Capital CEO Fawad Tariq Khan noted that demand for liquidity providers and their services is growing.
“We are delighted to be the company of choice for Depa, and all other listed equities and Futures, and we look forward to playing a key role in supporting liquidity levels. We are also looking to expand this sophisticated service for other markets in the region," Tariq Khan concluded.
